Don't Nod Entertainment（RFV）株式概要Don't Nod Entertainment S.A.は世界中でビデオゲームを開発・出版している。 詳細RFV ファンダメンタル分析スノーフレーク・スコア評価5/6将来の成長4/6過去の実績0/6財務の健全性4/6配当金0/6報酬当社が推定した公正価値より91.1%で取引されている 収益は年間120.87%増加すると予測されています 同業他社や業界と比較して、良好な取引価格 リスク分析German市場と比較して、過去 3 か月間の株価の変動が非常に大きい意味のある時価総額がありません ( €5M )キャッシュランウェイが1年未満である すべてのリスクチェックを見るRFV Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€0.2689.9% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-64m32m2016201920222025202620282031Revenue €22.5mEarnings €2.9mAdvancedSet Fair ValueView all narrativesDon't Nod Entertainment S.A. 競合他社Beyond Frames EntertainmentSymbol: DB:8WPMarket cap: €49.2mJanosch Film & MedienSymbol: HMSE:JFIKMarket cap: €5.4mYour Family EntertainmentSymbol: DB:RTVMarket cap: €5.0mVidinextSymbol: XTRA:VXTMarket cap: €7.3m価格と性能株価の高値、安値、推移の概要Don't Nod Entertainment過去の株価現在の株価€0.2652週高値€0.8552週安値€0.25ベータ0.831ヶ月の変化-18.41%3ヶ月変化-25.07%1年変化n/a3年間の変化-96.84%5年間の変化-98.12%IPOからの変化-98.92%最新ニュースお知らせ • May 15Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026. Location: 11 rue de cambrai, paris FranceNew Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €43m Forecast net loss in 2 years: €2.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Market cap is less than US$10m (€5.85m market cap, or US$6.85m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€2.8m net loss in 2 years).お知らせ • Apr 25Don't Nod Entertainment S.A. to Report Fiscal Year 2025 Results on Apr 23, 2026Don't Nod Entertainment S.A. announced that they will report fiscal year 2025 results at 5:40 PM, Central European Standard Time on Apr 23, 2026New Risk • Nov 21New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: €8.53m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (€8.53m market cap, or US$9.81m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€26m). Currently unprofitable and not forecast to become profitable next year (€9.3m net loss next year).Board Change • Nov 14Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • May 06Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025. Location: parc du pont de flandre, 11 rue de cambrai, paris France最新情報をもっと見るRecent updatesお知らせ • May 15Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026. Location: 11 rue de cambrai, paris FranceNew Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €43m Forecast net loss in 2 years: €2.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Market cap is less than US$10m (€5.85m market cap, or US$6.85m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€2.8m net loss in 2 years).お知らせ • Apr 25Don't Nod Entertainment S.A. to Report Fiscal Year 2025 Results on Apr 23, 2026Don't Nod Entertainment S.A. announced that they will report fiscal year 2025 results at 5:40 PM, Central European Standard Time on Apr 23, 2026New Risk • Nov 21New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: €8.53m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (€8.53m market cap, or US$9.81m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€26m). Currently unprofitable and not forecast to become profitable next year (€9.3m net loss next year).Board Change • Nov 14Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • May 06Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025. Location: parc du pont de flandre, 11 rue de cambrai, paris FranceBoard Change • Jan 23Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Dec 06Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Jun 11No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Samuel Jacques was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • May 08Don't Nod Entertainment S.A., Annual General Meeting, Jun 11, 2024Don't Nod Entertainment S.A., Annual General Meeting, Jun 11, 2024. Location: parc du pont de flandre le beauvaisis, 11 rue de cambrai, paris FranceBoard Change • Apr 30No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Samuel Jacques was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Feb 21Don't Nod Entertainment S.A. to Report Fiscal Year 2023 Results on Apr 17, 2024Don't Nod Entertainment S.A. announced that they will report fiscal year 2023 results on Apr 17, 2024Board Change • Jan 23No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Samuel Jacques was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Nov 08No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Julien Bares was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.New Risk • Nov 07New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 45% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (45% accrual ratio). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding).Reported Earnings • Oct 18First half 2023 earnings releasedFirst half 2023 results: Revenue: €16.5m (up 10% from 1H 2022). Net loss: €866.0k (down 152% from profit in 1H 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year whereas the company’s share price has fallen by 31% per year.Valuation Update With 7 Day Price Move • Oct 12Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to €4.69, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Entertainment industry in Europe. Total loss to shareholders of 67% over the past three years.Board Change • Sep 26No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Julien Bares was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.New Risk • Jul 06New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 59% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (59% accrual ratio). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding).Board Change • Jun 13No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Julien Bares was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.株主還元RFVDE EntertainmentDE 市場7D-41.3%-5.4%-0.8%1Yn/a-50.8%2.2%株主還元を見る業界別リターン: RFVがGerman Entertainment業界に対してどのようなパフォーマンスを示したかを判断するにはデータが不十分です。リターン対市場: RFV German市場に対してどのようなパフォーマンスを示したかを判断するにはデータが不十分です。価格変動Is RFV's price volatile compared to industry and market?RFV volatilityRFV Average Weekly Movement29.3%Entertainment Industry Average Movement10.2%Market Average Movement5.7%10% most volatile stocks in DE Market13.2%10% least volatile stocks in DE Market2.8%安定した株価: RFVの株価は、 German市場と比較して過去 3 か月間で変動しています。時間の経過による変動: RFVの weekly volatility ( 29% ) は過去 1 年間安定していますが、依然としてGermanの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト2008217Oskar Guilbertdontnod-bourse.comDon't Nod Entertainment S.A.は世界中でビデオゲームを開発、出版している。アドベンチャー、アクション、ロールプレイングゲームなど様々なジャンルのゲームを提供している。同社は2008年に法人化され、フランスのパリに本社を置いている。もっと見るDon't Nod Entertainment S.A. 基礎のまとめDon't Nod Entertainment の収益と売上を時価総額と比較するとどうか。RFV 基礎統計学時価総額€5.45m収益（TTM）-€35.66m売上高(TTM)€20.82m0.3xP/Sレシオ-0.2xPER（株価収益率RFV は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計RFV 損益計算書（TTM）収益€20.82m売上原価€0売上総利益€20.82mその他の費用€56.48m収益-€35.66m直近の収益報告Dec 31, 2025次回決算日該当なし一株当たり利益（EPS）-2.74グロス・マージン100.00%純利益率-171.30%有利子負債／自己資本比率1.7%RFV の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/26 23:54終値2026/06/26 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Don't Nod Entertainment S.A. 2 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。4 アナリスト機関Yann de PeyrelongueGilbert DupontNicolas RoyotPortzamparc BNP ParibasMaxence DhouryPortzamparc BNP Paribas1 その他のアナリストを表示
お知らせ • May 15Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026. Location: 11 rue de cambrai, paris France
New Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €43m Forecast net loss in 2 years: €2.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Market cap is less than US$10m (€5.85m market cap, or US$6.85m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€2.8m net loss in 2 years).
お知らせ • Apr 25Don't Nod Entertainment S.A. to Report Fiscal Year 2025 Results on Apr 23, 2026Don't Nod Entertainment S.A. announced that they will report fiscal year 2025 results at 5:40 PM, Central European Standard Time on Apr 23, 2026
New Risk • Nov 21New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: €8.53m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (€8.53m market cap, or US$9.81m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€26m). Currently unprofitable and not forecast to become profitable next year (€9.3m net loss next year).
Board Change • Nov 14Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • May 06Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025. Location: parc du pont de flandre, 11 rue de cambrai, paris France
お知らせ • May 15Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026Don't Nod Entertainment S.A., Annual General Meeting, Jun 17, 2026. Location: 11 rue de cambrai, paris France
New Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €43m Forecast net loss in 2 years: €2.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Market cap is less than US$10m (€5.85m market cap, or US$6.85m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€2.8m net loss in 2 years).
お知らせ • Apr 25Don't Nod Entertainment S.A. to Report Fiscal Year 2025 Results on Apr 23, 2026Don't Nod Entertainment S.A. announced that they will report fiscal year 2025 results at 5:40 PM, Central European Standard Time on Apr 23, 2026
New Risk • Nov 21New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: €8.53m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (€8.53m market cap, or US$9.81m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€26m). Currently unprofitable and not forecast to become profitable next year (€9.3m net loss next year).
Board Change • Nov 14Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • May 06Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025Don't Nod Entertainment S.A., Annual General Meeting, Jun 10, 2025. Location: parc du pont de flandre, 11 rue de cambrai, paris France
Board Change • Jan 23Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Dec 06Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Julie Chalmette was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Jun 11No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Samuel Jacques was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • May 08Don't Nod Entertainment S.A., Annual General Meeting, Jun 11, 2024Don't Nod Entertainment S.A., Annual General Meeting, Jun 11, 2024. Location: parc du pont de flandre le beauvaisis, 11 rue de cambrai, paris France
Board Change • Apr 30No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Samuel Jacques was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Feb 21Don't Nod Entertainment S.A. to Report Fiscal Year 2023 Results on Apr 17, 2024Don't Nod Entertainment S.A. announced that they will report fiscal year 2023 results on Apr 17, 2024
Board Change • Jan 23No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Samuel Jacques was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Nov 08No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Julien Bares was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
New Risk • Nov 07New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 45% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (45% accrual ratio). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding).
Reported Earnings • Oct 18First half 2023 earnings releasedFirst half 2023 results: Revenue: €16.5m (up 10% from 1H 2022). Net loss: €866.0k (down 152% from profit in 1H 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year whereas the company’s share price has fallen by 31% per year.
Valuation Update With 7 Day Price Move • Oct 12Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to €4.69, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Entertainment industry in Europe. Total loss to shareholders of 67% over the past three years.
Board Change • Sep 26No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Julien Bares was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
New Risk • Jul 06New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 59% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (59% accrual ratio). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding).
Board Change • Jun 13No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Julien Bares was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
